Somali shilling
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| Somali shilling shilin soomaali (Somali) |
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| ISO 4217 Code | SOS | ||
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| User(s) | Somalia | ||
| Symbol | So. Sh. | ||
| Coins | 5, 10, 25, 50, 100 shillings | ||
| Banknotes | 5, 10, 20, 50, 100, 500, 1000 shillings | ||
| Central bank | Central Bank of Somalia | ||
| Somalia |
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The Somali shilling (shilin soomaali) is the currency used in the African nation of Somalia. The ISO 4217 code for the Somali shilling is SOS.
Contents |
[edit] History
The shilling has been the currency of parts of Somalia since 1921, when the East African shilling was introduced to British Somaliland. Following independence, the somalo of Italian Somaliland and the East African shilling (which were equal in value) were replaced at par by the Somali shilling, called the scellino in Italian. The shilling/scellino was subdivided into 100 cents/centesimi.
The Somali names shilin and sent were introduced in 1976, with the Italian names disappearing. The Italian name scellino made its way back on some of the coins in 2000, but not all. The spelling of the subunit today remains unknown.
In Somaliland, a separate issue of currency circulates, denominated in Somaliland shillings.
[edit] Coins
Older coins include the 5, 10, 50 senti and 1, 5 shilin.
Whether current issues of coins are used in practice is also unknown. For example, 10 shilling coin is only available as commemorative coin in the Twelve Animal series or F.A.O.. Other regional currencies as well as the U.S. dollar and euro circulate as well.
[edit] Banknotes
The situation of the currency in Somalia is unknown, but as in Afghanistan before 2002, banknotes of the old issue of 5, 10, 20, 50, 100, 500 and 1000 shilling are probably being produced without honouring the serial numbers.
In the south, only the 1000 shilin note remains in circulation today. All other denominations, such as the 20, 50, 100, 500 in circulation prior the civil war, disappeared. In the more northern peaceful areas of the country, still the 500 shilin note along with 1000 shilin can be seen in circulation.
[edit] Historical exchange rates
Free market rates in southern Somalia:
2000 SOS/USD in June 1991
5000 SOS/USD in June 1993
13400 SOS/USD in March 2006
[edit] References
- CIA World Factbook - Somalia
- Peter Symes (December 2005). The Banknotes of Somalia – Part 4. Retrieved on 2006-11-03.
[edit] External links
- Gallery of old and new Somali Banknotes
- Somalia at Islamic Banknotes
- Somaliland
- Somalian coins at the Coingallery
| Preceded by: Italian Somaliland somalo Location: Italian Somaliland Reason: independence and merging of British Somaliland and Italian Somaliland Ratio: at par |
Currency of Somalia 1962 – 1991 Note: the shilling was made the unit of account shortly after independence in 1960 |
Currency of Somalia 1991 – |
Succeeded by: Current |
| Preceded by: East African shilling Location: British Somaliland Reason: independence and merging of British Somaliland and Italian Somaliland Ratio: at par |
Currency of Somaliland 1991 – 1994 |
Succeeded by: Somaliland shilling Reason: currency independence Ratio: 1 Somaliland shilling = 100 Somali shillings = 1/50 United States dollar Note: Somaliland is not widely recognized |
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